No Financial Debt Without Disbursement of Money to Corporate Debtor Under IBC

Amisha In Sky Creation Pvt. Ltd. Vs Sandeep D Maheshwari (NCLAT Delhi) Mortgage of Property Without Loan Disbursement Held Not to Create Financial Debt; Claim Rejection Upheld as Security Creation Alone Does Not Establish Financial Creditor Status; Mortgage-Based Arrangement Held Insufficient to Confer Secured Financial Creditor Status; Post-Dated Cheques and Interest Clauses Held Insufficient to Establish Financial Debt.  Two appeals were filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 against an order of the Adjudicating Authority (NCLT, Mumbai Bench) in which the claim o...